NZ dollar falls after Yellen says rate hike 'appropriate', driving up US dollar index

Sun, 29 May 2016

By Jonathan Underhill May 30 (BusinessDesk) - The New Zealand dollar fell after Federal Reserve chair Janet Yellen said a rate hike is "appropriate" in coming months, driving the greenback up against a basket of currencies. The kiwi fell to 66.91 US cents as at 8am in Wellington, from 67.44 cents in late Asian trading last week. The trade-weighted index slipped to 72.29 from 72.61 in Wellington on Friday. Yellen told an audience at Harvard University that it was appropriate "for the Fed to gradually and cautiously increase our overnigh...

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